Bookkeeping and Accounting Virtual Assistants: What Can They Do For Entrepreneurs?

Initially, when you have just started your company, tasks like invoicing, receivables & payables, and bookkeeping look easy. But as your small business grows, bookkeeping seems like a gigantic task.

At one point, it becomes nearly impossible to handle all the bookkeeping tasks by yourself. It is a challenge for small business owners across the world. According to a study by Owl Labs, 16% of companies operate remotely, and even more work in hybrid models – a mix of both in-office and virtual employees.

This is where the role of a virtual bookkeeping assistant becomes important.

A virtual bookkeeper is a remote professional. They offer a cost-effective way to manage your financial records. They can handle various tasks, like reconciling bank statements, preparing financial reports, etc. This means that business owners can concentrate on growing their businesses.

However, the real question is - what tasks can a virtual bookkeeper do for your business? Read on to find the answer!

Who is a Virtual Accounting Assistant?

Before discussing the 14 tasks a VA bookkeeping service provider can do for you, let's understand virtual bookkeeping. Although in-house bookkeepers work from an office, only some of their time is spent productively. A study of around 2,000 full-time employees revealed that people are only productive for 2 hours 23 minutes out of an 8-hour work day. The rest of the time is spent on useless things like social media, gossip, smoke breaks, eating, and reading the news. Unless you are ready to micromanage, there is no way to ensure that your workers are entirely productive.

In simple terms, virtual bookkeeping is a financial management service that is conducted remotely. It is usually done with the help of cloud-based accounting software. The role of a bookkeeping or accounting virtual assistant is to assist business owners with finance management. From tracking transactions and expenses to creating financial reports, they can help keep finances in check.

Additionally, they can work with different accounting software. This helps them streamline processes, making them more efficient and ensuring accuracy.

Benefits of Hiring a Virtual Assistant for Accountants

Virtual bookkeepers offer a large number of benefits to entrepreneurs. The most common benefits such professionals offer include better finances, saved money, improved cash flow, increased financial transparency, and specialized skills.

That said, let's have a look at the top benefits of hiring a virtual bookkeeper:

1. Financial Champions

Having a virtual bookkeeping assistant can be a massive help for entrepreneurs in taking care of their finances. Almost 31% of business owners trust their bookkeeper and accountant. They take their advice about financial matters.

These assistants can create accurate financial reports, manage cash flow, and spot areas that could be improved. Also, they can utilize customizable Excel Invoice Templates tailored to specific business needs. These templates are typically available for free download and can be easily printed or emailed. This helps entrepreneurs make the right decisions for their businesses and avoid any financial troubles in the future.

2. Smart Savings

Onboarding a bookkeeping assistant is a great way to save money in the long run. They can help entrepreneurs keep track of expenses and identify areas for cost-cutting. This ultimately reduces unnecessary costs - resulting in increased profitability. A bookkeeper’s base salary starts at $40,000 per year.

3. Zero Cash Flow Headaches

Working with an online bookkeeper is an excellent way to improve cash flow. These professionals can manage your accounts payable and receivable. They can also help invoice clients and ensure payments are made on time. It enables you to avoid cash flow problems that can cripple your business in the future.

4. More Financial Clarity

If you want more clarity into your finances, hiring a virtual accounting assistant is the way to go! These assistants can provide you with better insight into their finances. They can offer detailed financial reports. It enables entrepreneurs to track their spending and pinpoint areas of improvement.

5. Expert Support

Virtual bookkeeping assistant are experts at what they do. They can bring their specialized knowledge to the table to help entrepreneurs manage their finances in a better way. They can also offer tax-related advice, help with tax filing, and more.

Why Wishup?

• Cost Saver: An in-house bookkeeper is more expensive than a remote bookkeeper. You can save more than half of your costs when you hire virtually from Wishup.
• Pre-Trained Bookkeeper: Hiring a virtual bookkeeper from Wishup means working with trained professionals skilled in more than 70 tasks, ranging from calendar to inbox management.
• Pre-Interviewed Bookkeeper: Wishup considers tries to save clients' time by pre-interviewing the professionals and picking only the top 1% of professionals, best at bookkeeping.
• Experienced Professionals: We ensure that only knowledgeable professionals who have previously worked on various challenging projects handle your project. You can benefit from the experiences of a bookkeeper, ensuring that your business moves in the right direction.
• No Employer Liabilities: Wishup provides the best services at highly competitive prices.

Want your Finances Managed? Now's the Chance!

Are you an entrepreneur looking to improve your finances and boost your bottom line? If yes, hiring an online bookkeeping expert could be precisely what you need! They will help you keep your financial records accurate and up-to-date. This, in turn, will help you make smarter business decisions and prevent any money-related issues in the future.

Click here to register on our website. That will help you schedule a free consultation with our team.

Get in touch with Wishup to schedule a free consultation. You can also email us at [email protected] to get a bookkeeping assistant today and start taking control of your finances!

FAQs related to Virtual Bookkeeping Assistant

How can I onboard a virtual bookkeeping assistant without any prior accounting experience?

When you select Wishup for your virtual accounting and bookkeeping needs, we take the time to learn about your unique needs and demands. We gather the necessary information from in-depth conversations so that we can pair you with the best virtual bookkeeping assistant with the knowledge and experience necessary for your company.

What is a financial virtual assistant?

These professionals focuses on financial affairs and can undertake various responsibilities, including organizing emails, arranging meetings, and addressing intricate client inquiries.

Can virtual assistants do bookkeeping?

Absolutely, virtual assistants can handle your company's bookkeeping needs. Many virtual assistants have experience in bookkeeping and can assist you with tasks like maintaining financial records, reconciling accounts, and creating financial statements. Find a suitable virtual bookkeeping assistant for your company using Wishup.